Zacks Investment Research Lowers Ameris Bancorp (ABCB) to Sell
Zacks Investment Research cut shares of Ameris Bancorp (NASDAQ:ABCB) from a hold rating to a sell rating in a research report report published on Tuesday.
According to Zacks, “ABC Bancorp is a bank holding company. “
ABCB has been the subject of several other research reports. TheStreet downgraded Ameris Bancorp from a b- rating to a c+ rating in a research note on Monday, December 24th. BidaskClub upgraded Ameris Bancorp from a strong sell rating to a sell rating in a report on Thursday, September 13th. ValuEngine cut Ameris Bancorp from a hold rating to a sell rating in a report on Thursday, September 27th. Stephens set a $58.00 target price on Ameris Bancorp and gave the stock a buy rating in a report on Monday, December 17th. Finally, Piper Jaffray Companies set a $50.00 target price on Ameris Bancorp and gave the stock a hold rating in a report on Monday, November 26th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $56.67.
Ameris Bancorp (NASDAQ:ABCB) last released its earnings results on Friday, October 19th. The bank reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. The company had revenue of $129.21 million during the quarter, compared to the consensus estimate of $135.44 million. Ameris Bancorp had a return on equity of 11.14% and a net margin of 17.99%. On average, analysts predict that Ameris Bancorp will post 3.3 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 10th. Investors of record on Monday, December 31st were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Friday, December 28th. Ameris Bancorp’s dividend payout ratio (DPR) is presently 16.13%.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Ameris Bancorp by 14.6% in the 2nd quarter. BlackRock Inc. now owns 5,583,722 shares of the bank’s stock worth $297,890,000 after acquiring an additional 710,335 shares during the period. NWQ Investment Management Company LLC grew its stake in shares of Ameris Bancorp by 50.3% in the 3rd quarter. NWQ Investment Management Company LLC now owns 1,403,449 shares of the bank’s stock valued at $60,840,000 after buying an additional 469,897 shares during the period. Vanguard Group Inc lifted its position in Ameris Bancorp by 10.6% in the 3rd quarter. Vanguard Group Inc now owns 4,275,269 shares of the bank’s stock valued at $195,381,000 after acquiring an additional 411,255 shares in the last quarter. Vanguard Group Inc. lifted its position in Ameris Bancorp by 10.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,275,269 shares of the bank’s stock valued at $195,381,000 after acquiring an additional 411,255 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Ameris Bancorp during the 3rd quarter worth approximately $16,104,000. 84.41% of the stock is currently owned by hedge funds and other institutional investors.
About Ameris Bancorp
Ameris Bancorp operates as the holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, Small Business Administration Division, and Premium Finance Division.
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